Indonesia: Kalimantan CBM acreage agreement signed

Indonesia’s government and CBM Asia Development Corp., Vancouver, BC, have signed a production sharing contract for the 1,500 sq km Kuala Kapuas I CBM block in the central Barito basin of South Kalimantan.

CBM Asia noted that ExxonMobil and BP dominate acreage holding in the Barito basin, which has estimated original gas in place of 102 tcf. The company said it hopes to add Barito basin acreage in the near future through the PSC bid process and joint ventures.